Understanding cryptocurrencies and investment. - page 8.

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Quote from: gurunanakji777 on May 08, 2023, 08:10:54 AM

Before entering the crypto market, it's essential to have knowledge about it. It's not advisable to rely on other people's advice when buying cryptocurrencies. To identify the right coins to invest in, you need to have a good understanding of the market's behavior, movement, and chart readings. If you lack knowledge about the crypto market, it's best to invest only in Bitcoin.

Not before entering, it's before investing. Knowledge begins upon entering the gates towards the world of cryptocurrencies.

Anyway, what you said are true, knowledge is essential in this field and just like any other field, it will be so risky for you if you will invest directly using your hard earned funds. Even if you're investing towards the right coin like bitcoin, you will still find yourself in a position of pulling out what you have invested because you don't really understand what's going on in the market and why is everything is declining instead of increasing as you didn't invest on knowledge first before using your funds.

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Quote from: Kelvinid on May 19, 2023, 10:14:40 AM

Quote from: Cling18 on May 07, 2023, 10:15:28 AM

Risking innovative concepts is the primary challenge, especially if we don't have a firm guarantee of their viability and validity. In my viewpoint, it would be wiser to choose tried-and-true coins if you are unsure because they have a solid base and have already faced with various market circumstances. It may be tempting to make an investment to test new coins because they appear profitable and attractive, but we should never take a risk without first conducting adequate research to have a better assurance that we won't regret it afterward. Yes, there are many projects that are feasible today, but they also come with scam projects, so we need to be cautious of them.

There are potential coins available in the market and showing remarkable events already which is enough to consider when investing. In fact, we never fall into scam projects if we know exactly what we are doing and much more if we know the risk that we have in the crypto space. Many people suffer losses because of a lack of knowledge and greediness but if we can just stop this and take extra caution, I was very certain that it never happen to us. Unfortunately, things can be changed when someone who has the influence would speak as it gives courage to the investors without knowing that it was just a trap.

As you said, we can avoid the scam projects that people with influence speaks about if we know what we are doing and knows what kind of risk we have in investing. The target audience of influencers who are promoting scam projects or projects that has uncertainty are the people who are either riding the hype or people without proper knowledge on what they are doing. It's known that investing on an altcoin at an early stage and has a high probability that a project will be a success will grant you a big amount of profit compared on buying it on the market. And this is the reason why people still invest on projects.

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Quote from: Cling18 on May 07, 2023, 10:15:28 AM

Risking innovative concepts is the primary challenge, especially if we don't have a firm guarantee of their viability and validity. In my viewpoint, it would be wiser to choose tried-and-true coins if you are unsure because they have a solid base and have already faced with various market circumstances. It may be tempting to make an investment to test new coins because they appear profitable and attractive, but we should never take a risk without first conducting adequate research to have a better assurance that we won't regret it afterward. Yes, there are many projects that are feasible today, but they also come with scam projects, so we need to be cautious of them.

There are potential coins available in the market and showing remarkable events already which is enough to consider when investing. In fact, we never fall into scam projects if we know exactly what we are doing and much more if we know the risk that we have in the crypto space. Many people suffer losses because of a lack of knowledge and greediness but if we can just stop this and take extra caution, I was very certain that it never happen to us. Unfortunately, things can be changed when someone who has the influence would speak as it gives courage to the investors without knowing that it was just a trap.

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The period of investment will depend on how the coin's value and market will behave. I suggest just monitoring the movement until you see an opportunity to sell it with enough profits that will satisfy you. With meme coins, short-term investment only, and please do deep research before buying them.
With the likes of Bitcoin, Ethereum, and BNB, you could keep it for as long as you like as its value will certainly go up with their usage and demand.
Identifying the best coin is on you, there are gems outside the Top 50 that could make you lots of money if you did your homework about them. But I tell you, it's going to be gruesome hours of research before you could be successful in finding them. I mean, being the early adopter before it goes to the trend.

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knowledge in the world of crypto is very important in investing, of course with the aim of minimizing risk, but no one can guarantee that the coin you invest is 100% safe, investing in big coins like bitcoin, eth and BNB is the right choice if you want looking for the best coin for the long term

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Quote from: el kaka22 on May 08, 2023, 02:11:51 PM

Bitcoin. You do not need to understand which coin and all that, you just need to consider that it is possible to focus on how you could make money based on what bitcoin has provided.

As long as you have that mindset, then it should be fine, you could of course invest into other coins just like what others do, but that doesn't mean that it will have to be like that, it's just an obvious situation where you could make a big difference when the time comes and could just put aside a small amount to invest into those.

There are so many coins created from time to time. It is so tiring to learn and can be costly if you will consider each of them. It's fine if there are guaranteed return but the problem is there isn't so why can't we just focus on Bitcoin instead? However some old alts are still useful in certain times, like for example now, the Bitcoin fees are huge again. We can use those alts as an alternative for a while but once the situation returns to normal, we can go back in Bitcoin again.

Quote from: el kaka22 on May 08, 2023, 02:11:51 PM

Nothing has ever passed it so far and I bet that nothing else will ever pass it neither.

There is one coin before which value is more than Bitcoin but I don't know what happened to it. Even if the coin is alive, I think Bitcoin is taking the lead now because the value of BTC have improved.

Quote from: el kaka22 on May 08, 2023, 02:11:51 PM

If you do not invest into bitcoin at all, and only focus on alts, that would be a mistake and you should avoid that if possible.

If there are people who only focus on Bitcoin, then there is also people who only like altcoins. There is no problem with that.

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Bitcoin. You do not need to understand which coin and all that, you just need to consider that it is possible to focus on how you could make money based on what bitcoin has provided. Nothing has ever passed it so far and I bet that nothing else will ever pass it neither.

As long as you have that mindset, then it should be fine, you could of course invest into other coins just like what others do, but that doesn't mean that it will have to be like that, it's just an obvious situation where you could make a big difference when the time comes and could just put aside a small amount to invest into those. If you do not invest into bitcoin at all, and only focus on alts, that would be a mistake and you should avoid that if possible.

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Quote from: initim on May 05, 2023, 04:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

Crypto is a general term, it is more often used synonymous with cryptocurrency but can also apply to cryptography, but in this forum we are more interested in the first one.

The best coin is no doubt bitcoin. But I want to question the source of this query, because I have seen this pop up every other day I visit the forum and even after being repeated by countless older members of this forum, newbies keep asking the same thing.

I understand that altcoins are "attractive/glossy/easy-to-get" while bitcoin is "older/wornout/difficult-to-get"

But truth is that what is difficult to get gives more fruit than those quick one night stands. Grin

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Before entering the crypto market, it's essential to have knowledge about it. It's not advisable to rely on other people's advice when buying cryptocurrencies. To identify the right coins to invest in, you need to have a good understanding of the market's behavior, movement, and chart readings. If you lack knowledge about the crypto market, it's best to invest only in Bitcoin.

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Most people in the crypto world say that it is high risk compared to bitcoin, and I can say that what they say is true. But if you know how to choose and understand a potential crypto then I think it won't be difficult to do it.

If you know its development, and you also know how to look at its liquidity, for sure you also know if you will be short or long-term with the coins you choose.

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Firstly, cryptocurrencies are not only about coins but also tokens. If you don't know the difference, coins are those that have their own chain like ethereum, stellar, solana, etc, while tokens are those that are built above those chains . These tokens and coins other than Bitcoin will be called altcoins later. If we talk about the best coin to invest in from a long-term perspective, it should still be Bitcoin. It's the most "save" for now, even for newbies. But if you want to have a chance to get rich in one night, it's probably Meme coins that have the absolute highest risk to invest in. Honestly, I really don't know the exact period to invest; however, based on history, we have the Bitcoin halving, which is mentioned as once every 4 years, which will affect the market generally. That's when the bull run will start, Bitcoin will reach its new ATH, altcoins will follow, and hype will happen. New investors will jump in; that's where old investors liquidate their bags, and then a bear market will happen, then they will re-buy, and so on and so forth in the cycle. So, it's not an absolute event, of course; however, you can make a prediction from here. Buy when the bears run, and sell when the bulls run. Buy when everybody else sells, and vice versa.

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Quote from: initim on May 05, 2023, 04:15:45 PM

(....)
How do we identify the best coin and the period to invest in these types of coins?

For me, it's difficult to identify the time as some people are only investing when the trend is already bullish or some people are buying the dips which they intend to start to accumulate during the bear season or a lot of dumps happening.
For me, it's better to do research and technical analysis because this will help you to identify when to invest. About the best coin, you can do it by doing research.

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Quote from: JahriMeayer on May 07, 2023, 03:14:32 PM

To find out the best coin from altcoins, what you just need to read their whitepaper first to know them. If you start understanding about a coin, their team, aim and real created reason behind their entry of crypto market, then you’ll learn how to find out your desired coin you are looking for. But now finding hidden gem is so hard. That's why there are some best coins to invest like btc, ether, bnb & some others potential coins, those are best & safe & recognized by everyone

It is indeed correct that you need to do your due diligence before you invest on any of the coins we have on the market, but reading the white paper is probably one of the last steps on that process.

Before you do so you need to take a look at who the developers say they are, are those pictures really of themselves or were they stolen? Are their certifications and the experience they claim to have correct? What are their claims about the financial performance of their coin? Those are the kind of questions you need to ask first, as in this way you can realize in a matter of minutes if the coin is a scam or not, and only once a few of those coins which you have been researching pass all of those tests then you can begin to think about reading their whitepaper.

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Quote from: initim on May 05, 2023, 04:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

We have a market aggregator to see how particular coins perform in the market, you can check the platform if it has usage or utility, so far Bitcoin is the only parameter if a coin or token is worth investing in or not, if we are asking how to identify coins worth investing we should also educate ourselves on what coins to avoid and these are coins coming from shills and hype.

Identifying good and bad coins to invest in is very important you should have these two pieces of knowledge if you don't want to get tied up to a bad portfolio.

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To find out the best coin from altcoins, what you just need to read their whitepaper first to know them. If you start understanding about a coin, their team, aim and real created reason behind their entry of crypto market, then you’ll learn how to find out your desired coin you are looking for. But now finding hidden gem is so hard. That's why there are some best coins to invest like btc, ether, bnb & some others potential coins, those are best & safe & recognized by everyone

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Quote from: initim on May 05, 2023, 04:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

It’s not difficult to invest in best coins, as like BTC is undoubtedly best & number 1 coin all of the time, here you can put your all of money instead of other coin where high risk. You can identify top coins according to Coinmarketcap, but risk is one of the part of cryptocurrency, so before invest a coin, you need to DYOR. I suggested BTC,ETH,BNB & MATIC those are the best coin in my end.

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Risking innovative concepts is the primary challenge, especially if we don't have a firm guarantee of their viability and validity. In my viewpoint, it would be wiser to choose tried-and-true coins if you are unsure because they have a solid base and have already faced with various market circumstances. It may be tempting to make an investment to test new coins because they appear profitable and attractive, but we should never take a risk without first conducting adequate research to have a better assurance that we won't regret it afterward. Yes, there are many projects that are feasible today, but they also come with scam projects, so we need to be cautious of them.

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Quote from: initim on May 05, 2023, 04:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

identifying altcoins is very difficult because sometimes when we believe it turns out to be zonk, and many other factors,
Many people don't recommend investing in new dialtcoins because there are too many scams unless you have a strong mentality and dare to lose

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IMO, Determining the best currency to invest and the right time to invest are complex questions and there is no universal answer for everyone. You need to research and research the currencies listed and evaluate them based on factors such as liquidity, supply and demand, its performance potential, and others. You need to find information from reliable sources such as websites or magazines specializing in cryptocurrencies, reviews and votes from experts to stay up to date on the situation and trends of cryptocurrencies. And I think that after having basic skills in this field, we will know how to evaluate the investment in accordance with our ability as well as the desired goals to receive from our knowledge, experience and experience. Experience with failures or successes brings valuable lessons in the investment journey not only in the cryptocurrency market but also in different financial markets.

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Quote from: initim on May 05, 2023, 04:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

As long as you only invest in bitcoins, it is the best coin in crypto so you can get great returns or profits in the future. If you want to invest in bitcoin, you are prepared to hold it for several years until it can make or reach its latest ATH price and then sell it for a big profit.

But if you invest in altcoins, this is a bit difficult because you have to find the right altcoins to make big profits. That's why if you want to invest in altcoins, you also have to be able to analyze them to find the coins so you can get the right coins. Investing in altcoins takes longer because you must analyze them before investing. And to hold the altcoins, it looks like you can use short and medium term investments and after you have made a profit, you can move to other altcoins.

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